Hong Kong conglomerate1 Chow Tai Fook, which is best known for its jewelry2 stores, has won Australian regulatory approval to acquire gas and electricity provider Alinta Energy.
香港周大福经澳大利亚监管机构批准收购Alinta Energy电气能源公司。
A spokeswoman for
Treasurer3 Scott Morrison said the deal has been approved by the Foreign Investment Review Board and is subject to strict conditions.
It's being reported that Chow Tai Fook agreed in March to pay
investors4, including buyout firm TPG Capital, over 3 billion U.S. dollars for Alinta.
Once completed, the deal would mark a first foray into the Australian energy
sector5 for the Hong Hong-based company, which already has stakes in Australian real estate and resorts.
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